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ManpowerGroup Inc. (MAN) - free report >>
Omnicom Group Inc. (OMC) - free report >>
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Omnicom (OMC) to Acquire German Public Relations Agency OSK
Omnicom Group Inc. (OMC - Free Report) , on Monday, announced that it will acquire German public relations and communications agency, Oliver Schrott Kommunikation GmbH (“OSK”), for an undisclosed amount. The transaction, which is subject to customary closing conditions, is anticipated to be completed in the fourth quarter of 2021.
Founded in 1993, OSK currently has an extensive portfolio of communication services, with more than 225 professionals posted in offices in the United States, Germany and China. Post the acquisition, OSK will be a stand-alone brand within the Omnicom Public Relations Group, and will continue under the leadership of its president and CEO, Oliver Schrott.
Omnicom to Brace PR Footprint
John Wren, chairman and CEO of Omnicom, stated that the buyout is part of the company’s strategic plan to enhance capabilities in the areas of technology, mobility and communications. He added that the acquisition will help Omnicom fortify its PR footprint in Europe.
OSK, which serves Mercedes-Benz, will play a vital role in Omnicom’s partnership with the automotive luxury brand to develop Team X, which is a tailormade and data-driven global agency solution with expertise across the full range of Mercedes' Communications and Marketing activities.
Over the past year, Omnicom’s shares have gained 42.5%, underperforming the 56.1% growth of the industry it belongs to, but outperforming the 33.1% growth of the Zacks S&P 500 composite.
Omnicom Group Inc. Price
Omnicom Group Inc. price | Omnicom Group Inc. Quote
Zacks Rank and Stocks to Consider
Omnicom currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are ManpowerGroup ((MAN - Free Report) ), Cross Country Healthcare ((CCRN - Free Report) ) and Genpact ((G - Free Report) ), each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected earnings per share (three to five years) growth rate for ManpowerGroup, Cross Country Healthcare and Genpact is pegged at 24.2%, 9.9% and 14.7%, respectively.